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How to break the cycle of debt

How to break the cycle of debt

A strong theme that emerged in the Money Makeover Challenge this year was the extent to which applicants have built up large amounts of debt in a short period of time. This phenomenon is driven by the rising cost of living and increasing interest...

Understand what debt counselling means

Understand what debt counselling means

Capitec recently sent out a warning to its customers about false advertising by certain debt counselling companies. The warning stated: “Have you ever been promised immediate debt relief or a payment holiday that doesn’t affect your credit score?...

When debt review works

When debt review works

Going into debt review is like going on a diet: it’s difficult to stick to and the results won’t be immediate, but it can be life changing. While there are serious issues around the way some debt counsellors conduct themselves, for Grace Bekwa,...

Don’t rush into debt review

Don’t rush into debt review

While debt review can be a lifeline for an over-indebted consumer, it should not be entered into lightly. You need to be aware that once you enter debt review, you cannot apply for new credit, and you cannot exit debt review until all your debts...

Video: How to exit debt  review

Video: How to exit debt review

You can apply for debt review if you are unable to meet your debt commitments. However, in some cases, your finances may improve and you may wish to exit debt review. Whether or not you are able to exit will be determined by where you are in the...

When to consider debt counselling

When to consider debt counselling

As salaries struggle to keep up with inflation, and the economy in general continues to deteriorate, many middle- and higher-income earners are now relying more heavily on unsecured loans to maintain their lifestyles. As a result, many more South...

Q&A: Debt Review

Q&A: Debt Review

A recent court ruling provided clarity around exactly how and when an individual may exit debt review, but there is still a lot of confusion around the debt review process. I have recently paid off my car and some credit I had, but I still have...

When can you exit debt review?

When can you exit debt review?

Many consumers commit themselves to debt review only to get cold feet several months later. For some, finding themselves cut off from credit lines is just too stressful, while others find their financial situation may have already improved. A...

Maya Fisher-French author of Money Questions Answered

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